Verizon and Yahoo! Reportedly Nearing an Agreement on Price Cut for Deal

Verizon and Yahoo! Reportedly Nearing an Agreement on Price Cut for Deal

Verizon and Yahoo! Reportedly Nearing an Agreement on Price Cut for Deal

Verizon's purchase of Yahoo's core internet arm was put in doubt previous year after disclosure of two cyber attacks. Following this new deal, it is likely that Verizon will also share some legal burden with Yahoo over their security breaches, giving Yahoo some breathing space. More than 500 million accounts were affected.

The country's largest wireless carrier announced a year ago it planned to acquire Yahoo's core business for $4.83 billion.

Following reports of a revised deal, Yahoo's stock jumped $0.57 (1.27%) to $45.59 early Wednesday afternoon, while Verizon slipped down $0.30 (0.61%) to $47.98.

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While Verizon executives have since said it would be evaluating the implications of the breach and the subsequent investigation, it was unclear whether Yahoo or Verizon was aware of the scope of either large-scale hacks before inking the acquisition deal. That was believed to be the biggest-ever data breach on record until December - when the company disclosed that data from more than 1 billion user accounts was stolen by an unknown party in 2013.

Verizon's telephone business is seeming dated these days, and Yahoo's business won't do much to change that. Yahoo did not immediately have a comment. Yahoo! said on 23 January that, following the leak disclosures, it would now take up to the second quarter for things to be finalised. While there was a lot of speculation about the attack and a lot of finger-pointing as well, there were reports that Verizon would seek a discount from Yahoo. AOL CEO Tim Armstrong will assume oversight of the combined AOL-Yahoo group.

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